Jackson Financial Incorporation (JXN) AI Stock Analysis

• Market Cap: $7.72B
• Dividend Yield: 2.98%
• Average Volume (3M): 458.62K
• Price to Earnings (P/E): 15.7
• Beta (1Y): 1.46
• Revenue Growth: 24.94%
• EPS Growth: N/A
• Country: US
• Employees: 3,060
• Sector: Financial
• Sector Strength: 70
• Industry: Insurance - Life
• EPS (TTM): 6.16
• Shares Outstanding: 67,969,864
• 10 Day Avg. Volume: 521,525
• 30 Day Avg. Volume: 458,616
• PEG Ratio: 0.87
• Price to Book (P/B): 0.66
• Price to Sales (P/S): 2.10
• P/FCF Ratio: 1.12
• Enterprise Value/Market Cap: 1.29
• Enterprise Value/Revenue: 2.10
• Enterprise Value/Gross Profit: 5.12
• Enterprise Value/Ebitda: 13.74
• 1Y Price Target: $115.00
• Price Target Upside: 1.29% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 5
• EPS Forecast (FY): 24.69
• Revenue Forecast (FY): $7.76B

• Rating: 72 Outperform
• Price Target: $122.00 ▲(7.45% Upside)

Overall score is driven by constructive technicals and a strong, shareholder-return-focused earnings call, supported by reasonable valuation. The main restraint is mixed financial statement quality, particularly the decline in revenue/profitability and weaker cash-flow signals.

Positive Factors

Capital Strength

A 579% risk-based capital ratio provides a durable cushion against underwriting and market shocks, supporting regulatory resilience and long-term solvency. This excess capital enables sustained product growth, captive reinsurance funding and shareholder returns without immediate need for external capital.

Retail Annuity Sales Momentum

Consistently high retail annuity and record RILA sales signal strong product-market fit and scalable distribution through advisor networks. Growing annuity account balances build recurring fee and spread income, supporting durable revenue streams and improving long-term predictability of earnings and capital generation.

Strategic Partnership Diversifies Earnings

A long-term investment management partnership with TPG diversifies Jackson’s earnings toward private credit and asset-based finance, adding fee-bearing AUM and origination capabilities. The deal and associated capital (including a captive reinsurer) improve capital efficiency and support sustainable growth in spread and fee income.

Negative Factors

Weak Cash Flow Quality

A sharp FCF decline and very low OCF/net income ratio indicate cash generation is not tracking earnings, constraining internal funding for growth, hedging and shareholder returns. Persistently weak cash conversion may force reliance on capital markets or slow buybacks and investments over the medium term.

Revenue and Margin Pressure

Material revenue decline and margin compression suggest structural pressure on pricing, spread income or product mix. Sustained top-line and margin weakness will reduce ROE and internal capital generation, limiting capacity to invest in distribution, product innovation or maintain elevated capital returns over time.

Variable Annuity Outflows and Hedging Risks

Elevated VA outflows shrink the fee-bearing and spread-earning base, increasing earnings volatility and hedging complexity. Persistent redemptions can force asset sales or change asset-liability management, eroding profitability and making long-term hedging and product economics more challenging.

Jackson Financial Incorporation Business Overview & Revenue Model

Company Description

Jackson Financial Inc., through its subsidiaries, primarily provides a suite of annuities to retail investors in the United States. The company operates through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. The Retail Annuities segment offers various retirement income and savings products, including variable, fixed index, fixed, and immediate payout annuities, as well as registered index-linked annuities and lifetime income solutions. The Institutional Products segment provides traditional guaranteed investment contracts; funding agreements comprising agreements issued in conjunction with its participation in the U.S. federal home loan bank program; and medium-term funding agreement-backed notes. The Closed Life and Annuity Blocks segment offers various protection products, such as whole life, universal life, variable universal life, and term life insurance products, as well as fixed, fixed index, and payout annuities. This segment also provides a block of group payout annuities. The company also offers investment management services. It sells its products through a distribution network that includes independent broker-dealers, banks and other financial institutions, wirehouses and regional broker-dealers, and independent registered investment advisors, third-party platforms, and insurance agents. Jackson Financial Inc. was formerly known as Brooke (Holdco1) Inc. and changed its name to Jackson Financial Inc. in July 2020. The company was incorporated in 2006 and is headquartered in Lansing, Michigan.

How the Company Makes Money

Jackson Financial generates revenue primarily through the sale of its annuity products and investment management services. The company earns money by charging fees on the assets it manages, which include administrative fees, mortality and expense risk charges, and surrender fees when clients withdraw funds from their contracts. Additionally, Jackson Financial benefits from the spread between the interest earned on its investments and the payouts made to policyholders. Strategic partnerships with financial advisors and brokers also enhance its distribution channels, allowing the company to reach a broader customer base and increase sales volume.

Jackson Financial Incorporation Financial Statement Overview

Summary

Jackson Financial Incorporation demonstrates a mixed financial performance. Strong gross profit margins and a stable balance sheet with reduced leverage are positive, but challenges in revenue growth and cash flow generation, along with declining net profit margin and return on equity, indicate pressure on profitability.

Income Statement

Jackson Financial Incorporation's income statement shows mixed performance. The TTM data reveals a gross profit margin of 91.06%, indicating strong profitability. However, the net profit margin has decreased to 11.71% from 30.60% in the previous year, reflecting a decline in net income relative to revenue. Revenue growth has been negative, with a significant drop of 13.48% in the TTM period, suggesting challenges in maintaining sales momentum. EBIT and EBITDA margins have also decreased, indicating pressure on operational efficiency.

Balance Sheet

The balance sheet of Jackson Financial Incorporation is relatively stable. The debt-to-equity ratio has improved to 0.20 in the TTM period, down from 0.45 in the previous year, showing a reduction in leverage. Return on equity has decreased to 5.67% from 9.69%, indicating a decline in profitability relative to shareholder equity. The equity ratio remains strong, reflecting a solid capital structure with a significant portion of assets financed by equity.

Cash Flow

Cash flow analysis reveals some concerns. Free cash flow growth has significantly declined by 73.04% in the TTM period, indicating potential liquidity challenges. The operating cash flow to net income ratio is low at 0.10, suggesting that cash generation from operations is not keeping pace with net income. However, the free cash flow to net income ratio remains stable at 1.0, indicating that free cash flow is still covering net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.75B	3.09B	3.17B	9.72B	5.50B	4.64B
Gross Profit	1.94B	2.39B	2.47B	8.91B	4.99B	-1.20B
EBITDA	724.00M	1.12B	1.07B	7.83B	4.39B	-2.39B
Net Income	576.00M	946.00M	934.00M	6.19B	3.42B	-1.63B
Balance Sheet
Total Assets	353.56B	338.45B	330.25B	314.98B	375.56B	353.46B
Cash, Cash Equivalents and Short-Term Investments	50.65B	44.06B	43.11B	46.79B	54.17B	61.09B
Total Debt	4.65B	4.38B	4.03B	4.37B	4.05B	322.00M
Total Liabilities	343.06B	328.47B	319.92B	305.61B	364.49B	343.53B
Stockholders Equity	10.23B	9.76B	10.17B	8.65B	10.39B	9.43B
Cash Flow
Free Cash Flow	5.66B	5.79B	5.31B	5.21B	5.68B	3.71B
Operating Cash Flow	5.66B	5.79B	5.31B	5.21B	5.68B	3.71B
Investing Cash Flow	-8.58B	-7.09B	-592.00M	-1.37B	-1.30B	-4.33B
Financing Cash Flow	4.42B	2.37B	-6.33B	-2.16B	-3.77B	705.00M

Jackson Financial Incorporation Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 113.54
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JXN, the sentiment is Positive. The current price of 113.54 is above the 20-day moving average (MA) of 110.92, above the 50-day MA of 102.51, and above the 200-day MA of 91.47, indicating a bullish trend. The MACD of 3.29 indicates Positive momentum. The RSI at 62.99 is Neutral, neither overbought nor oversold. The STOCH value of 56.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JXN.

Jackson Financial Incorporation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FG	77 Outperform	$3.71B	8.22	10.12%	2.91%	-4.58%	―
JXN	72 Outperform	$7.72B	15.71	5.50%	2.98%	24.94%	―
PRI	72 Outperform	$8.49B	12.20	33.91%	1.59%	5.63%	67.39%
CNO	71 Outperform	$3.96B	14.52	11.12%	1.54%	-1.61%	15.79%
LNC	71 Outperform	$7.77B	3.67	21.66%	3.93%	35.76%	636.97%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
GNW	63 Neutral	$3.35B	15.87	2.86%	―	1.41%	150.35%

Jackson Financial Incorporation Corporate Events

Jackson Financial Forms Strategic Partnership with TPG Inc.

On January 5, 2026, Jackson Financial Inc. entered into a long-term strategic partnership and investment agreement with global alternative asset manager TPG Inc., under which TPG will acquire approximately 6.5% of Jackson’s common equity for $500 million in cash, subject to a 9.9% ownership cap and multi-year holding and sale restrictions designed to stabilize the shareholder base and align interests. The proceeds, combined with $150 million of Jackson’s excess cash, will capitalize Hickory Brooke Reinsurance Company, a new Michigan-based captive reinsurer set up to support capital-efficient growth in Jackson’s fixed and fixed index annuity sales, while Jackson will also receive $150 million of TPG common stock and enter non-exclusive, 10-year-plus investment management arrangements that target $12 billion of general account assets under TPG’s management over five years, enhancing Jackson’s private credit and asset-based finance capabilities, diversifying earnings, and reinforcing its competitive position in U.S. retirement services; the transaction is expected to close in the first quarter of 2026, subject to customary conditions.

The most recent analyst rating on (JXN) stock is a Hold with a $118.00 price target. To see the full list of analyst forecasts on Jackson Financial Incorporation stock, see the JXN Stock Forecast page.

Jackson Financial Reports Strong Q3 2025 Earnings

Jackson Financial Inc. reported its third-quarter 2025 financial results, highlighting key metrics such as $65 million in GAAP earnings and $433 million in non-GAAP earnings. The company achieved a 579% statutory capital position and a 22% increase in retail annuity sales compared to the second quarter of 2025. The firm returned $657 million of capital to common shareholders in the first nine months of 2025 and expects to exceed its full-year capital return target. The company’s financial performance was bolstered by higher spread income and increased fee income, although it faced higher market-related operating costs.

The most recent analyst rating on (JXN) stock is a Hold with a $110.00 price target. To see the full list of analyst forecasts on Jackson Financial Incorporation stock, see the JXN Stock Forecast page.